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This week's edition focuses on the growing electronics ecosystem in India, covers the external affairs minister Jaishankar’s Three Nation Tour, and more must-know news.
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Rise of the Week: Electronics Ecosystem is Building Up
After Apple's recently announced shift of manufacturing capacity to India (see India Rising #6 in which we looked into how "Apple Confirms Broader Trend of India Becoming a Technology and Manufacturing Hub"), many other businesses are following suit and confirm an acceleration of India's electronics ecosystem. While this is partly due to geopolitical developments, it's also supported by India's Semiconductor Mission, which aims to make the country a global hub for electronics manufacturing.
India's goal of building an electronics ecosystem worth USD 300 Billion by 2026 and maintaining a CAGR of 33% by 2027 has reached its initial milestones, according to Invest India. Already the 2nd largest mobile phone manufacturer globally (exports FY 2024: USD 15.5 Billion), many recent announcements confirm India’s trajectory of establishing a local electronics ecosystem.
Apple's expanding ecosystem leads the charge with multiple new developments:
A new semiconductor plant for Apple products in Jewar, Uttar Pradesh, was approved. According to Tech Crunch, the plant will manufacture display driver chips for several product groups and will be built by a joint venture between HCL and Foxconn. This is already the 6th unit recently approved, with five already under construction.
Tata started assembling iPhones at its plant in Hosur.
In addition to iPhones, Apple reportedly plans to produce AirPods via its supplier Jabil at a new site in Tiruchirappalli, Tamil Nadu.
Other major manufacturers are equally bullish:
LG Electronics announced its third factory in Sri City, Andhra Pradesh. The USD 600 Million investment intends to further establish the brand in India and make it a manufacturing hub for the region.
Samsung plans to invest INR 1,000 Crore (EUR 111 Million) in its plant in Tamil Nadu, which manufactures TVs, washing machines and other products.
Due to geopolitical concerns, both Samsung (Times of India) and Google (Business Standard) also reportedly consider shifting smartphone production to India.
Semiconductor partnership are also gaining traction. The Dutch semiconductor leader NXP Semiconductors is reportedly in talks with Tata Electronics for outsourced production of semiconductor chips at Tata’s plant in Gujarat.
However, while there's significant momentum, setbacks exist too. Adani Group recently announced a pause on its semiconductor joint venture with Tower Semiconductor due to concerns about its commercial and operational viability. It remains to be seen whether the project will continue.
Overall, the growing electronics ecosystem creates positive impacts across the entire supply chain and adjacent sectors. Beyond the 270 academic institutions and 70 startups working on new products, equipment makers such as Lam Research, and European gas and chemical suppliers such as Merck, Linde and Air Liquide are benefiting and have started investing more in their Indian operations to support growing demand. Linde, for example, has achieved staggering growth in India with a CAGR of 23.46% in net sales and 42.16% CAGR in net profit in the past 3 years alone. The company is a critical supplier of high-purity gases, specialty chemicals, and advanced materials essential for chip fabrication and related processes. A confirmation of the strong potential for European businesses in India.
Sources: Invest India, Tech Crunch, The Economic Times, Business Korea, Times of India, Business Standard, Business World, Indian Web2, Fortune India
What Else is Rising?
External Affairs Minister Jaishankar’s Three Nation Tour
Last week, India's External Affairs Minister Jaishankar concluded a strategic trip to the Netherlands, Denmark and Germany, strengthening bilateral ties and advancing key partnerships across Europe.
The Netherlands served as the first stop to discuss stronger bilateral ties and India's collaboration at the EU level, according to The Hindu. This follows several meetings between representatives of both nations held over recent months, as reported in issues 8, 5 and 3 of India Rising.
In Copenhagen, the delegation met with Prime Minister Mette Frederiksen, Foreign Minister Lars Løkke Rasmussen, and Morten Bødskov, Denmark's Minister for Industry, Business and Financial Affairs. The focus of talks centred on global developments as well as intensifying the India-Denmark Green Strategic Partnership.
Discussed ways to enhance our talent linkages, industry partnership and joint collaboration to build more resilient supply chains.
Germany was the final stop, where India's minister of external affairs met with newly elected Chancellor Merz and German cabinet members. Strategic collaborations, industry partnerships and supply chain improvements were key topics discussed, as reported by The Economic Times.
The trip comes amid ongoing negotiations for the India-EU Free Trade Agreement (FTA), which is reportedly planned to be concluded in two phases. According to the Times of India, the interim agreement is targeted for signing in July as a boost for exports during times of tariff uncertainties.
Sources: The Hindu, DD News, The Economic Times, Times of India
Quick Risers
The Swiss reinsurance leader Swiss RE has increased efforts to insource its technology teams and expects to have 50% of its global tech talent being located in India. (Source: Business Standard)
The US business software company Rippling announced its second office in Bengaluru and expects to double its headcount to 2,000 employees over the next 2 years. (Source: Business Line)
Germany’s Rheinmetall and India’s Reliance Industries announced stronger collaboration in manufacturing incl. a manufacturing plant in Maharashtra. (Source: Breaking Defense)
Spotlight: La French Tech India AI Summit 2025
La French Tech is hosting the India AI Summit in Bengaluru on 5th June 2025.
Source: La French Tech (2025)
The summit includes panel discussions and keynotes from industry experts such as Jio’s VP & Chief AI Scientist Dr. Gaurav Aggarwal. 200+ leaders from startups, scale-ups, venture capital firms, corporates, and institutions are expected to attend the event.
Get more information incl. the registration link here!
Curiosity Corner
Your random facts and stories about India and the Indo-European friendship.
How a city in the Southeast of India got its name “Detroit of Asia”.
Chennai, the capital of Tamil Nadu, developed its reputation through a steady evolution from a colonial trading post to a major industrial center. The city’s industrial roots trace back to the 19th century, but significant growth in the automotive sector occurred after India’s independence and especially following economic reforms in the 1990s. Favorable government policies, infrastructure development, and an available workforce attracted both international manufacturers such as Hyundai, Ford, Stellantis, and BMW, as well as domestic companies like Ashok Leyland and TVS.
Today, Chennai is at the center of a 60 kilometre “Automotive Corridor” and accounts for over 60% of India’s automobile exports. Its concentration of automotive manufacturers and suppliers is the primary reason it is referred to as the “Detroit of Asia.”
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